The Hackett Group Inc. (NASDAQ:HCKT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “The Hackett Group, a global strategic advisory firm and an Answerthink company, is a leader in best practice research and advisory programs, benchmarking and transformation consulting services, including shared services, offshoring and outsourcing advice. Utilizing best practices and implementation insight from more than 4,000 benchmarking studies, executives use Hackett’s empirically based approach to quickly define and prioritize initiatives, and to leverage proven strategies that enable world-class performance. “
The Hackett Group (NASDAQ:HCKT) opened at 16.11 on Tuesday. The firm’s 50-day moving average is $16.31 and its 200 day moving average is $15.01. The Hackett Group has a 12 month low of $12.44 and a 12 month high of $20.02. The stock has a market capitalization of $460.05 million, a P/E ratio of 31.59 and a beta of 0.96.
The Hackett Group (NASDAQ:HCKT) last posted its earnings results on Tuesday, August 9th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The Hackett Group had a net margin of 6.09% and a return on equity of 20.00%. The business had revenue of $75.61 million for the quarter, compared to analysts’ expectations of $72.08 million. During the same period in the previous year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities analysts anticipate that The Hackett Group will post $0.90 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in The Hackett Group by 11.4% in the second quarter. Vanguard Group Inc. now owns 1,468,908 shares of the company’s stock worth $20,374,000 after buying an additional 150,727 shares during the last quarter. Copper Rock Capital Partners LLC boosted its stake in The Hackett Group by 1.6% in the second quarter. Copper Rock Capital Partners LLC now owns 1,419,155 shares of the company’s stock valued at $19,684,000 after buying an additional 22,055 shares in the last quarter. Hosking Partners LLP boosted its stake in The Hackett Group by 15.0% in the second quarter. Hosking Partners LLP now owns 923,196 shares of the company’s stock valued at $12,805,000 after buying an additional 120,525 shares in the last quarter. Renaissance Technologies LLC boosted its stake in The Hackett Group by 2.4% in the first quarter. Renaissance Technologies LLC now owns 734,844 shares of the company’s stock valued at $11,111,000 after buying an additional 17,091 shares in the last quarter. Finally, Thomson Horstmann & Bryant Inc. boosted its stake in The Hackett Group by 4.4% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 609,766 shares of the company’s stock valued at $8,457,000 after buying an additional 25,614 shares in the last quarter. 75.69% of the stock is currently owned by institutional investors and hedge funds.
About The Hackett Group
The Hackett Group, Inc is an advisory and technology consulting company. The Company’s services include business transformation, enterprise performance management, working capital management and global business services. The Company is engaged in providing business and technology consulting services.
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